Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.22.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2022
Revenue Recognition [Abstract]  
Summary of Opening and Closing Balances of Contract Liabilities

The Company performs its obligations under a contract with a customer by transferring products and/or services in exchange for consideration from the customer. The Company typically invoices its customers as soon as control of an asset is transferred and a receivable for the Company is established. The Company, however, recognizes a contract liability when a customer prepays for goods and/or services, and the Company has not transferred control of the goods and/or services. The opening and closing balances of the Company’s contract liabilities are as follows (in thousands):

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Undelivered elements (training, installation, product
   and support services)

 

$

913

 

 

$

835

 

Extended warranty contracts

 

 

1,832

 

 

 

1,753

 

Total deferred revenue

 

 

2,745

 

 

 

2,588

 

Less: long-term portion of deferred revenue

 

 

(303

)

 

 

(329

)

Deferred revenue — current

 

$

2,442

 

 

$

2,259

 

Summary of Disaggregation of Revenues Related to Geographic Areas

The Company’s revenues related to the following geographic areas were as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2022

 

 

2021

 

United States

 

$

6,978

 

 

$

5,221

 

International

 

 

3,188

 

 

 

2,895

 

Total net revenue

 

$

10,166

 

 

$

8,116

 

Summary of Revenues Disaggregated by Timing of Goods and Services Transferred

Information regarding revenues disaggregated by the timing of when goods and services are transferred is as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2022

 

 

2021

 

Revenue recognized over time

 

$

1,121

 

 

$

981

 

Revenue recognized at a point in time

 

 

9,045

 

 

 

7,135

 

Net revenue

 

$

10,166

 

 

$

8,116

 

Summary of Sales by End Market

The Company’s sales by end market were as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2022

 

 

2021

 

End-customer

 

$

6,978

 

 

$

5,221

 

Distributors

 

 

3,188

 

 

 

2,895

 

Net revenue

 

$

10,166

 

 

$

8,116